TransCentra, a leading provider of billing and payment software and services, announced today that TCF National Bank, a leading Midwest-based bank, is moving to its single platform for retail and wholesale lockbox services.
Two of its subsidiaries will also be using TransCentra's lockbox services.
“TCF chose TransCentra based on its ability to provide functionality and flexibility that enables our customers to choose from multiple processing locations throughout the country and to select the most appropriate cut-off times to meet their business needs," said Betsy Rojas, senior vice president, Commercial Banking at TCF Bank. "In addition, TransCentra’s Web portal provides our customers with customized reporting, robust search capabilities and Web decisioning."
Lynn Boggs, TransCentra CEO, added, “By moving wholesale and retail private label lockbox services to TransCentra, TCF Bank receives a significantly enhanced treasury management portal while operating under its own branding. The bank is now able to provide customers additional service options through the portal. TCF Bank’s customer service department will answer questions more efficiently since bank employees can now view the same information the customer is viewing in real time.”
TransCentra’s bank clients have access to its consolidated wholesale and retail private label lockbox services through its nationwide network. These services, along with TransCentra’s remote lockbox offering, consolidate paper check and electronic payments into a single data stream for processing, increasing the efficiency and reducing the costs of banks’ corporate clients’ billing and payments processes. The company operates nine lockbox sites across the United States.